GST REGISTRATION

OBTAINING REGISTRATION Migration of existing tax payers or new registration to the GSTN database Taxpayers with Valid PAN Online Application form through Common Portal Documents to be filed for registration: Constitution of Business Principal Place of Business Bank Accounts Authorised Signatory Photograph

Imp. Points Regarding Registration A person with multiple business verticals in a state may obtain a separate registration for each business vertical. PAN is mandatory to apply for GST registration (except for non-resident person who can get GST registration on the basis of other documents) A registration which has been rejected under CGST Act/SGST Act shall also stand rejected for the purpose of SGST/CGST act.

Why is GST Registration Important? GST registration is critical because it will enable us to avail various benefits like to avail seamless input tax credit. Multiple taxes are also being clubbed under GST and thus the cascading of taxes that was prevailing will no longer be the case.

Voluntary registration under GST A person may opt to get himself registered voluntarily under GST even if he is not liable to be registered. All the provisions of GST applicable to a registered taxable person will similarly apply to such a voluntarily registered person also, i.e., he will be treated as a normal taxable person.

Advantages of voluntary registration Legally recognized as supplier of goods or services Become more competitive Take input credit Make inter-state sales without many restrictions Register on e-commerce sites or open own e-commerce website Be compliant and have a good rating

CANCELLATION Any person who has taken voluntary registration but has not commenced business within six months from the date of registration will have his registration cancelled. Such cancellation will be done by – a proper officer ,or requested by the concerned person himself *,or on an application filed by his legal heirs, in case of death of such person *However, application for cancellation of registration by the concerned person who has registered voluntarily will be only after one year from the date of registration.

CASUAL REGISTRATION A person who occasionally supplies goods or services in a territory where GST is applicable but he does not have a fixed place of business. Such person will be treated as a casual taxable person as per GST. Example: A person who has a place of business in Bangalore supplies taxable consulting services in Pune where he has no place of business would be treated as a casual taxable person in Pune.

I hope it will be beneficial for you By: Kanika Aggarwal Team Atulkhurana.com

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